Cleantech Solutions Receives $1.9 Million Follow-on Purchase Orders for
WUXI, China, Jan. 15, 2013
WUXI, China, Jan. 15, 2013 /PRNewswire-FirstCall/ -- Cleantech Solutions
International, Inc. ("Cleantech Solutions" or "the Company") (NASDAQ: CLNT), a
manufacturer of metal components and assemblies, primarily used in the wind
power, solar and other clean technology industries and dyeing and finishing
equipment to the textile industry, today announced that the Company has
received a follow-on purchase order for airflow-dyeing machines from its
existing domestic customer.
The purchase order provides for Cleantech Solutions to deliver a total of 21
airflow-dyeing machines using the Company's patented production technique, for
a total purchase price of RMB 11.8 million (approximately $1.9 million).
Pursuant to the purchase order, the Company has received an advance payment of
approximately $1.1 million, or 60% of the purchase price, will receive an
additional 30% of the purchase price upon installation, and will receive the
remaining 10% within three months of installation. Cleantech Solutions expects
to deliver the units in February 2013. The Company's airflow-dyeing machines
use flowing air rather than water, which is used in the traditional dyeing
process. The Company believes that its airflow technology reduces input costs,
creates fewer wrinkles and less damage to the textile, and produces a reduced
level of emissions.
"We are pleased to see a continuous order flow for our airflow-dyeing
machines, which have received strong validation from our long-term customers.
Based on our proven track record, we are confident that we will secure more
and larger orders in the coming months and that this segment will make a
positive contribution to our business performance in 2013," said Mr. Jianhua
Wu, Chairman and CEO of Cleantech Solutions.
About Cleantech Solutions International
Cleantech Solutions is a manufacturer of metal components and assemblies,
primarily used in clean technology industries. The Company supplies forging
products, fabricated products and machining services to a range of clean
technology customers, primarily in the wind power sector and supplies dyeing
and finishing equipment to the textile industry. Cleantech Solutions is
committed to achieving long-term growth through ongoing technological
improvement, capacity expansion, and the development of a strong customer
base. The Company's website is www.cleantechsolutionsinternational.com. Any
information on the Company's website or any other website is not a part of
this press release.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the
business of the Company and its subsidiary and affiliated companies. These
forward looking statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions. Such forward
looking statements involve known and unknown risks and uncertainties that may
cause actual results to be materially different from those described herein as
anticipated, believed, estimated or expected. Investors should not place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. The Company's actual results could differ materially
from those anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission and
available on its website, including factors described in "Risk Factors" in our
Form 10-K for the year ended December 31, 2011 and "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in our Form
10-K for the year ended December 31, 2011 and our Form 10-Q for the quarter
ended September 30, 2012. Any information on the Company's website or any
other website is not a part of this press release. All forward-looking
statements attributable to the Company or to persons acting on its behalf are
expressly qualified in their entirety by these factors other than as required
under the securities laws. The Company does not assume a duty to update these
Investor Relations Contact:
CCG Investor Relations
Cleantech Solutions International, Inc.
Ms. Elaine Ketchmere, CFA
Mr. Adam Wasserman, Chief Financial Officer
SOURCE Cleantech Solutions International, Inc.
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